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Hengxing Gold Holding

SEHK:2303
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2303
SEHK
HK$6B
Market Cap
  1. Home
  2. HK
  3. Materials
Company description

Hengxing Gold Holding Company Limited, an investment holding company, engages in the mining and processing of gold; and sale of processed gold products in the People’s Republic of China. The last earnings update was 58 days ago. More info.


Add to Portfolio Compare Print
  • Hengxing Gold Holding has significant price volatility in the past 3 months.
2303 Share Price and Events
7 Day Returns
4.5%
SEHK:2303
2.1%
HK Metals and Mining
-0.2%
HK Market
1 Year Returns
-25.5%
SEHK:2303
-14.2%
HK Metals and Mining
-6.6%
HK Market
2303 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hengxing Gold Holding (2303) 4.5% -19.2% -20.9% -25.5% 184.4% 268.1%
HK Metals and Mining 2.1% 4.6% -10.4% -14.2% 19.1% 5.9%
HK Market -0.2% 2.3% -5.5% -6.6% 22.5% 4.4%
1 Year Return vs Industry and Market
  • 2303 underperformed the Metals and Mining industry which returned -14.2% over the past year.
  • 2303 underperformed the Market in Hong Kong which returned -6.6% over the past year.
Price Volatility
2303
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Hengxing Gold Holding's competitors could be found in our database.

Value

 Is Hengxing Gold Holding undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Hengxing Gold Holding to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Hengxing Gold Holding.

SEHK:2303 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:2303
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.036 (1 + (1- 25%) (1.18%))
1.03
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.03 * 5.96%)
8.14%

Discounted Cash Flow Calculation for SEHK:2303 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hengxing Gold Holding is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:2303 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.14%)
2019 330.69 Est @ 8.38% 305.79
2020 352.08 Est @ 6.47% 301.05
2021 370.14 Est @ 5.13% 292.65
2022 385.65 Est @ 4.19% 281.96
2023 399.28 Est @ 3.53% 269.94
2024 411.56 Est @ 3.07% 257.29
2025 422.89 Est @ 2.75% 244.46
2026 433.58 Est @ 2.53% 231.77
2027 443.86 Est @ 2.37% 219.39
2028 453.89 Est @ 2.26% 207.46
Present value of next 10 years cash flows CN¥2,611.75
SEHK:2303 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥453.89 × (1 + 2%) ÷ (8.14% – 2%)
CN¥7,539.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥7,539.22 ÷ (1 + 8.14%)10
CN¥3,445.90
SEHK:2303 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥2,611.75 + CN¥3,445.90
CN¥6,057.65
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥6,057.65 / 925.00
CN¥6.55
SEHK:2303 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2303)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥6.55 x 1.135
HK$7.43
Value per share (HKD) From above. HK$7.43
Current discount Discount to share price of HK$6.00
= -1 x (HK$6.00 - HK$7.43) / HK$7.43
19.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Hengxing Gold Holding is available for.
Intrinsic value
19%
Share price is HK$6 vs Future cash flow value of HK$7.43
Current Discount Checks
For Hengxing Gold Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hengxing Gold Holding's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Hengxing Gold Holding's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Hengxing Gold Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hengxing Gold Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2303 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.28
SEHK:2303 Share Price ** SEHK (2019-06-26) in HKD HK$6
SEHK:2303 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥5.29
Hong Kong Metals and Mining Industry PE Ratio Median Figure of 41 Publicly-Listed Metals and Mining Companies 8x
Hong Kong Market PE Ratio Median Figure of 1,488 Publicly-Listed Companies 10.77x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Hengxing Gold Holding.

SEHK:2303 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2303 Share Price ÷ EPS (both in CNY)

= 5.29 ÷ 0.28

18.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hengxing Gold Holding is overvalued based on earnings compared to the HK Metals and Mining industry average.
  • Hengxing Gold Holding is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Hengxing Gold Holding's expected growth come at a high price?
Raw Data
SEHK:2303 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.74x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-9.5%per year
Hong Kong Metals and Mining Industry PEG Ratio Median Figure of 15 Publicly-Listed Metals and Mining Companies 1.13x
Hong Kong Market PEG Ratio Median Figure of 470 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Hengxing Gold Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hengxing Gold Holding's assets?
Raw Data
SEHK:2303 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥1.00
SEHK:2303 Share Price * SEHK (2019-06-26) in HKD HK$6
SEHK:2303 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥5.29
Hong Kong Metals and Mining Industry PB Ratio Median Figure of 67 Publicly-Listed Metals and Mining Companies 0.81x
Hong Kong Market PB Ratio Median Figure of 2,173 Publicly-Listed Companies 0.93x
SEHK:2303 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2303 Share Price ÷ Book Value per Share (both in CNY)

= 5.29 ÷ 1.00

5.27x

* Primary Listing of Hengxing Gold Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hengxing Gold Holding is overvalued based on assets compared to the HK Metals and Mining industry average.
X
Value checks
We assess Hengxing Gold Holding's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Hengxing Gold Holding has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Hengxing Gold Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Hengxing Gold Holding, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hengxing Gold Holding expected to grow at an attractive rate?
  • Hengxing Gold Holding's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Hengxing Gold Holding's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Unable to compare Hengxing Gold Holding's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2303 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2303 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -9.5%
Hong Kong Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 12.1%
Hong Kong Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.1%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:2303 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2303 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 830 395 261
2018-09-30 823 356 252
2018-06-30 816 318 244
2018-03-31 888 347 242
2017-12-31 961 377 240
2017-09-30 965 340 249
2017-06-30 970 302 257
2017-03-31 851 302 230
2016-12-31 733 301 203
2016-09-30 589 233 151
2016-06-30 445 164 100
2016-03-31 365 115 77

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hengxing Gold Holding's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Hengxing Gold Holding is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:2303 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Hengxing Gold Holding Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2303 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.28
2018-09-30 0.27
2018-06-30 0.26
2018-03-31 0.26
2017-12-31 0.26
2017-09-30 0.27
2017-06-30 0.28
2017-03-31 0.25
2016-12-31 0.22
2016-09-30 0.16
2016-06-30 0.11
2016-03-31 0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Hengxing Gold Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Hengxing Gold Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Hengxing Gold Holding has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Hengxing Gold Holding performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Hengxing Gold Holding's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Hengxing Gold Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Hengxing Gold Holding's 1-year earnings growth is less than its 5-year average (8.6% vs 59.4%)
  • Hengxing Gold Holding's earnings growth has exceeded the HK Metals and Mining industry average in the past year (8.6% vs 4%).
Earnings and Revenue History
Hengxing Gold Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Hengxing Gold Holding Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2303 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 830.01 260.90 37.75
2018-09-30 822.76 252.31 37.13
2018-06-30 815.52 243.73 36.52
2018-03-31 888.02 242.01 34.80
2017-12-31 960.52 240.30 33.08
2017-09-30 965.16 248.56 29.45
2017-06-30 969.81 256.81 25.82
2017-03-31 851.42 229.99 25.84
2016-12-31 733.03 203.16 25.86
2016-09-30 589.25 151.39 28.78
2016-06-30 445.47 99.62 31.70
2016-03-31 365.01 76.60 30.68
2015-12-31 284.55 53.59 29.67
2015-09-30 265.15 37.72 27.39
2015-06-30 245.75 21.85 25.12
2015-03-31 202.78 -6.08 25.09
2014-12-31 159.82 -34.01 25.06
2014-09-30 104.50 -71.15 25.10
2014-06-30 49.18 -108.30 25.14
2014-03-31 26.83 -99.17 24.46
2013-12-31 4.48 -90.04 23.78
2012-12-31 -44.21 20.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Hengxing Gold Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Hengxing Gold Holding used its assets more efficiently than the HK Metals and Mining industry average last year based on Return on Assets.
  • Hengxing Gold Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hengxing Gold Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Hengxing Gold Holding has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Hengxing Gold Holding's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Hengxing Gold Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hengxing Gold Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hengxing Gold Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hengxing Gold Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 7.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Hengxing Gold Holding Company Filings, last reported 5 months ago.

SEHK:2303 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 927.35 60.00 331.94
2018-09-30 927.35 60.00 331.94
2018-06-30 791.36 99.44 248.34
2018-03-31 791.36 99.44 248.34
2017-12-31 791.20 148.29 216.06
2017-09-30 791.20 148.29 216.06
2017-06-30 668.13 216.30 206.55
2017-03-31 668.13 216.30 206.55
2016-12-31 632.86 246.23 183.30
2016-09-30 632.86 246.23 183.30
2016-06-30 491.96 404.13 195.13
2016-03-31 491.96 404.13 195.13
2015-12-31 428.00 398.33 26.34
2015-09-30 428.00 398.33 26.34
2015-06-30 391.98 458.19 104.17
2015-03-31 391.98 458.19 104.17
2014-12-31 374.44 525.07 114.22
2014-09-30 374.44 525.07 114.22
2014-06-30 370.13 500.35 196.47
2014-03-31 370.13 500.35 196.47
2013-12-31 127.44 485.54 10.35
2012-12-31 112.71 364.47 20.43
  • Hengxing Gold Holding's level of debt (6.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (373.2% vs 6.5% today).
  • Debt is well covered by operating cash flow (658.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 52.2x coverage).
X
Financial health checks
We assess Hengxing Gold Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Hengxing Gold Holding has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Hengxing Gold Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.62%
Current annual income from Hengxing Gold Holding dividends.
If you bought HK$2,000 of Hengxing Gold Holding shares you are expected to receive HK$32 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Hengxing Gold Holding's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Hengxing Gold Holding's dividend is below the markets top 25% of dividend payers in Hong Kong (5.89%).
Upcoming dividend payment

Purchase Hengxing Gold Holding before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:2303 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Hong Kong Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 4.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.7%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:2303 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-29 0.086 1.400
2019-03-29 0.085 1.289
2018-06-28 0.131 2.239
2017-04-20 0.080 1.892

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hengxing Gold Holding has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Hengxing Gold Holding only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Hengxing Gold Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Hengxing Gold Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Hengxing Gold Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hengxing Gold Holding has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Hengxing Gold Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lydia Yang
COMPENSATION CN¥2,058,514
AGE 40
TENURE AS CEO 1 years
CEO Bio

Ms. Yifang Yang, also known as Lydia, is President, Chief Executive Officer and Executive Director of Hengxing Gold Holding Company Limited since June 1, 2018.

CEO Compensation
  • Insufficient data for Lydia to compare compensation growth.
  • Lydia's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Hengxing Gold Holding management team in years:

1.2
Average Tenure
39
Average Age
  • The average tenure for the Hengxing Gold Holding management team is less than 2 years, this suggests a new team.
Management Team

Xiping Ke

TITLE
Chairman
AGE
57

Lydia Yang

TITLE
President
COMPENSATION
CN¥2M
AGE
40
TENURE
1 yrs

David Chen

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
49
TENURE
1.4 yrs

Yanjuan Lin

TITLE
Finance Director
AGE
35
TENURE
3.9 yrs

Lee Siu Yung

TITLE
Legal Counsel
TENURE
0.4 yrs

Jiaqi Ke

TITLE
Executive Director
AGE
28
TENURE
1 yrs

Wai Ling Wong

TITLE
Company Secretary
AGE
38
TENURE
5.8 yrs
Board of Directors Tenure

Average tenure and age of the Hengxing Gold Holding board of directors in years:

5.2
Average Tenure
55
Average Age
  • The tenure for the Hengxing Gold Holding board of directors is about average.
Board of Directors

Xiping Ke

TITLE
Chairman
AGE
57
TENURE
7.2 yrs

Lydia Yang

TITLE
President
COMPENSATION
CN¥2M
AGE
40
TENURE
1 yrs

David Chen

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
49
TENURE
6.3 yrs

Jiaqi Ke

TITLE
Executive Director
AGE
28
TENURE
1 yrs

Xizheng Ke

TITLE
Chairman of Jinchuan Mining
AGE
55
TENURE
3.7 yrs

Angel Wong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥131K
AGE
46
TENURE
6.3 yrs

Tim Sun

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥131K
AGE
57
TENURE
5.2 yrs

Greg Pan

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥77K
AGE
61
TENURE
1 yrs

Albert Fook

TITLE
Non-Executive Director
COMPENSATION
CN¥226K
AGE
72
TENURE
6.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Hengxing Gold Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Hengxing Gold Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why Hengxing Gold Holding Company Limited (HKG:2303) Looks Like A Quality Company

By way of learning-by-doing, we'll look at ROE to gain a better understanding Hengxing Gold Holding Company Limited (HKG:2303). … Over the last twelve months Hengxing Gold Holding has recorded a ROE of 31%. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.31 in profit.

Simply Wall St -

What Does Hengxing Gold Holding Company Limited's (HKG:2303) PE Ratio Tell You?

Hengxing Gold Holding Company Limited (HKG:2303) is currently trading at a trailing P/E of 21.2x, which is higher than the industry average of 12.1x. … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … View our latest analysis for Hengxing Gold Holding

Simply Wall St -

Who Are The Largest Shareholders In Hengxing Gold Holding Company Limited (HKG:2303)?

In this analysis, my focus will be on developing a perspective on Hengxing Gold Holding Company Limited’s (HKG:2303) latest ownership structure, a less discussed, but important factor. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment. … Check out our latest analysis for Hengxing Gold Holding

Simply Wall St -

Only 2 Days Left To Cash In On Hengxing Gold Holding Company Limited (HKG:2303) Dividend, Should Investors Buy?

Have you been keeping an eye on Hengxing Gold Holding Company Limited's (HKG:2303) upcoming dividend of CN¥0.15 per share payable on the 27 August 2018? … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Hengxing Gold Holding's latest financial data to analyse its dividend attributes. … See our latest analysis for Hengxing Gold Holding

Simply Wall St -

How Financially Strong Is Hengxing Gold Holding Company Limited (HKG:2303)?

Hengxing Gold Holding Company Limited (HKG:2303) is a small-cap stock with a market capitalization of HK$7.54b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is

Simply Wall St -

Hengxing Gold Holding Company Limited (HKG:2303): Time For A Financial Health Check

On top of this, 2303 has produced cash from operations of CN¥301.26M over the same time period, resulting in an operating cash to total debt ratio of 122.35%, indicating that 2303’s current level of operating cash is high enough to cover debt. … Looking at 2303’s most recent CN¥202.80M liabilities, the company has been able to meet these obligations given the level of current assets of CN¥346.40M, with a current ratio of 1.71x. … In 2303's, case, the ratio of 28.14x suggests that interest is comfortably covered, which means that lenders may be inclined to lend more money to the company, as it is seen as safe in terms of payback.Next Steps: 2303’s debt level is appropriate for a company its size, and it is also able to generate sufficient cash flow coverage, meaning it has been able to put its debt in good use.

Simply Wall St -

Is It Time To Sell Hengxing Gold Holding Company Limited (HKG:2303) Based Off Its PE Ratio?

It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for 2303 Price per share = CN¥8.07 Earnings per share = CN¥0.278 ∴ Price-Earnings Ratio = CN¥8.07 ÷ CN¥0.278 = 29.1x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … Ultimately, our goal is to compare the stock’s P/E ratio to the average of companies that have similar attributes to 2303, such as company lifetime and products sold.

Simply Wall St -

Company Info

Description

Hengxing Gold Holding Company Limited, an investment holding company, engages in the mining and processing of gold; and sale of processed gold products in the People’s Republic of China. It operates through two segments, Gold Mining and International Trading. The company holds interest in the Gold Mountain Mine, which includes the Yelmand prospect, the Mayituobi prospect, the Jinxi-Balake prospect, the Kuangou prospect, and the Lion prospect, located in Yining County of Xinjiang. It also trades in palm oil and iron ore. The company was incorporated in 2012 and is headquartered in Yining, the People’s Republic of China. Hengxing Gold Holding Company Limited is a subsidiary of Gold Virtue Limited.

Details
Name: Hengxing Gold Holding Company Limited
2303
Exchange: SEHK
Founded: 2012
HK$5,781,250,000
925,000,000
Website: http://www.hxgoldholding.com
Address: Hengxing Gold Holding Company Limited
No. 36 Yiji Road,
Yining,
Xinjiang Uygur Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2303 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 29. May 2014
DB 119 Ordinary Shares Deutsche Boerse AG DE EUR 29. May 2014
Number of employees
Current staff
Staff numbers
377
Hengxing Gold Holding employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 12:56
End of day share price update: 2019/06/26 00:00
Last earnings filing: 2019/04/29
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.